Premier Li Keqiang sent a letter of congratulations to the ceremony marking the establishment of the Asian Financial Cooperation Association on July 24.

The Premier said that a stable and efficient financial system is the solid foundation for the sustainable development of the global economy.

China is quite supportive of the establishment of the association, which can optimize the regional distribution of financial resources and back up the development of emerging economies with communication, cooperation, co-sharing and co-governance as its principles.

The organization also can provide support for the construction of projects associated with the Belt and Road Initiative, the Premier pointed out.

He said he hoped that the association can maintain green and inclusive finance and further promote the communication and cooperation of regional finance, while formulating criteria, and maintaining safety and stability.

Vice-Premier Ma Kai attended the ceremony. The association, which consists of 107 founding members from around the world, is based in Beijing.